About us

We are a Finland based company specializing in blockchain technology. We were founded in 2018. Our personnel has different backgrounds from long experience in information technology to online marketing and finance. We all have one thing in common. We believe in the advantages blockchain technology has. We believe blockchains will be integrated to almost all technology related services for their cost efficiency and operational reliability. We believe the process is just beginning and it is still to hard for people to invest in this techology without a relative background.

As our first service we wanted to launch a platform where people can invest in cryptocurrencies. The development of the platform is partly funded by EU. The biggest goal of our platform is to make the process to invest in cryptocurrencies and other blockchain tokens easy without compromising the security. We also offer relative information on our website. If you're left with any questions our customer service is happy to provide answers.

Members of the Board of Directors:

What is a blockchain?

A blockchain is a continuously growing list of records, called blocks, which are linked to each other. Each block contains data, that can't be modified afterwards in any way without the whole chain changing completely. Hence, the blockchain offers multiple benefits to the companies and the people by creating a more open and secure option of organizing things. This happens by distributing the data to multiple computers what is also known as decentralization.

The data can contain anything from the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability, and voting. Without the blockchain technology these things need to be supervised by a trusted authority which is problematic and time consuming. The decentralization happens by storing data across the blockchain's peer-to-peer network. This way it has no point of failure. In digital currencies, blockchain technology is used to make the currency reliable without the need of a trusted authority or central server. Majority of cryptocurrencies have their own blockchain, and all of the currencies are trying to solve at least one of the problems mentioned above.

What are cryptocurrencies?

Cryptocurrency is a digital asset that uses strong encryption to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Most of the cryptocurrencies are decentralized and have their own blockchain, that serves as a public financial transaction database. This database is practically impossible to modify, which is one of the many reasons why cryptocurrencies are so safe and secure.

Cryptocurrencies were originally created so that no banks or governments could control the money supply, like they do with traditional money. That way the inflation rate is known beforehand, and therefore can't be manipulated.This also means that when consuming cryptocurrencies, they don't transfer from bank to some other bank, but straight from the user to another.

Some of the cryptocurrencies focus on a spesific goal or goals like increasing the users' privacy, creating a platform to create your own application, or reward creators of content. However, most of the cryptocurrencies concentrate on their original goal, which is the smoothest possible transfer of funds with no middlemen.

What is Bitcoin?

Bitcoin was created in 2009 making it the first decentralized virtual currency. It is a response to the economic crises that preceded it. Bitcoin was released by an unknown person or group using the name Satoshi Nakamoto, and they have stayed anonymous.

Bitcoin uses blockchain technology where all the money transfers and Bitcoin addresses are open to the public and readable from the public ledger. However, bitcoin addresses' owners can not be identified which increases the user's privacy. The blockchain always checks automatically that the sender's address has enough Bitcoins, which ensures the safety and operational reliability of Bitcoin. For each Bitcoin transfer there is also a small transaction fee to help maintain the network.

When using Bitcoins, you do not have to use whole Bitcoins, but you can also use it with decimals, up to eight decimal places. For example, you can buy Bitcoins with two euros and pay a coffee cup with them.

The Bitcoins are created as an award for the process called mining. The miners assign the computing power of their computers to the Bitcoin Network, for which they receive small parts of Bitcoin as a reward. The computers of the miners maintain this peer-to-peer network, and handle money transfers there. Thus no middlemen, such as banks, are not needed in making money transfers. This also makes Bitcoin immune to corruption of institutions and counterfeiting of currency.

The number of "new" Bitcoins extracted will fall over time. The maximum number of Bitcoins is 21 million and they will all be extracted around in 2140. After that, the miners will receive their rewards of the transaction costs. Restricting the maximum number of Bitcoins leads to deflation in demand remaining constant, meaning that the value of Bitcoins measured in "traditional currencies" will increase if it keeps its popularity.

What is Litecoin?

Litecoin was released in October 2011 by Charlie Lee, a former Google employee. Litecoin is nearly identical to Bitcoin, and its code and technical properties are very similar to Bitcoin's. Litecoin is often used to test new innovations created for Bitcoin, before they are applied to Bitcoin itself.

It differs primarily by having a decreased block generation time and an increased maximum number of coins. The developers claim that the decreased block processing time allows Litecoin to have faster transaction confirmation. The maximum supply has been raised to be quadruple compared to Bitcoin, meaning that there will be a maximum of 84 million Litecoins.

Litecoin is a bit easier to make changes to than Bitcoin; the changes in Litecoin only require the approval of 75% of the miners, while the equivalent of Bitcoin is 95%. This will enable faster implementation of various reforms, if necessary.

Frequently Asked Questions

Go to the
signup
page and fill in your personal information. Then, just verify your identity and you're all set to make you first deposit. The whole process takes only a few minutes.

There are strict regulations for all money transmitting services. We have to know our customers to be able to follow anti-money laundering policies. This is in your, and our, best interest. We handle all data according to the GDPR requlations. Following these policies makes sure we can provide our services also in the future.

For now we only have accounts for individuals but we plan to have corporate accounts in the future. You can contact our customer service and leave your contact information so we can let you know when companies can register.

First, you have to be logged in and verified. Then, just navigate to My account -page. You can see the currencies along with the balances followed by two buttons. Click the green deposit button for the desired currency. You will find specific instructions for this currency on this page.

We store all cryptocurrencies in offline wallets. This means that even if someone would get access to our systems, they would not be able to steal any funds. The downside is that the withdrawals have to be processed manually. Please allow us up to three days to process your cryptocurrency withdrawals. We store all deposited euros in a customer funds account.

When you have created and verified your account make a deposit and navigate to the Buy & Sell page. Then just pick the currency you want to buy and the currency you're buying with. Type in the amount and click Execute trade. The amount you bought will show up on your account immediately.

There are some fees for deposits and withdrawals. The fee depends on the currency and the transfer method. However, we do not monetize deposits and withdrawals. The fees are purely to offset our expenses. For trading, we have a fee of about 1%. You can find all fees on the Fees page.

In fact, Northcrypto is not selling cryptocurrencies. We have signed a contract with a liquid market maker who provides all the cryptocurrencies. We are the service where the market maker makes deposits and thus we are able to provide these currencies with a stable price.

Just like when depositing, navigate to My Account after you log in. This time, click the red withdraw button for the desired currency. You will find further instructions on this page. The withdrawal requires a confirmation by email. Please allow the couple day processing times for the withdrawals. This helps us improve the security of our service.

If you have not used cryptocurrency wallets before we strongly recommend you read more about them before making a cryptocurrency withdrawal. There are multiple wallets available for different devices and currencies. However, if the amount of the cryptocurrency is large, we recommend you to look into hardware wallets.

Cryptocurrency transactions are not reversible. Therefore, please double check the address letter by letter when submitting the withdrawal. We cannot cancel or modify any sent transactions.

You can cancel your withdrawal while it's still in the processing state. This means that we have not sent the transaction yet. After the transaction is sent there is no way to cancel the withdrawal. You can find the withdrawal status in the Withdrawals page.

Navigate to Account details when you're logged in. You will see a button to change the password.

You can't unfortunately update your email yourself. This is due to security. The withdrawals are confirmed with an email. If you were able to update the email yourself, anyone who would get access to your account could change the email and then make withdrawals using the new email. Please contact us to make the change.

There is a link to unsubscribe at the bottom of each email. Clicking the link will unsubscribe you from the mailling list.

Please contact us and request for the removal of your account. Deleting the account won't delete all your data. We have to keep some of it due to legal requirements.